Decentralized Oracles Lend More Versatility to the Aelf Blockchain Project

Achieving interoperability between different crypto ecosystems and blockchains is not at all a simple task. And it is something which big projects have been eying on since quite some time. However, the Aelf blockchain project seems to have somewhat moved forward in the space as its recent update might start new times of communication. In simple terms, Aelf has attained the capability of communicating with other chains.

As per the latest reports, Aelf will be relying on Chainlink Oracles services to communicate with other data sources as well as blockchains. With such technology, it will be possible for any linked blockchain to carry out interaction with the data sources like SAP, Google Cloud, and NASDAQ. As far as crypto is concerned, it will enable a direct communication channel with Bitcoin and data.

What’s interesting is, each oracle in the ecosystem will be able to verify data before it submits the same to any partner blockchains like Aelf. Thus, the future will see Aelf developers building a new range of apps along with services. In addition to that, it can also contribute to strengthening the smart contract development in the ecosystem. Aelf, in a way, has now become one among the very few blockchains having such functionality.

While on the looks of it, it seems Aelf will attain interoperability with regards to other blockchains and data sources with this latest implementation, the reality is different. Yes, there will be communication between different entities for obtaining and verifying information, thanks to these oracles, but that alone can’t be taken as total interoperability.

The Chainlink oracles can be thought of as merely a first step in achieving that objective. The firm will be collecting and analyzing the feedback from this endeavor and plan the next moves on making their blockchain completely interoperable with the other market players. As experts outline, it will at least take years to attain that kind of interoperable functionality between all the blockchains.

To those who are unaware, the Chainlink oracles network is completely decentralized, opening new doors of possible use cases. As it is an agnostic network, projects can make interactions with it as per their requirements.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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